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| Cent (Penny) (United States) | |
|---|---|
| Value: | 0.01 U.S. dollar |
| Mass: | 2.5 g (0.080 troy oz) |
| Diameter: | 19.05 mm (0.750 in) |
| Thickness: | 1.55 mm (0.061 in) |
| Edge: | Plain |
| Composition: | Copper-plated Zinc 97.5% Zn, 2.5% Cu |
| Years of minting: | 1909– |
| Catalog number: | - |
| Obverse | |
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| Design: | Abraham Lincoln |
| Designer: | Victor D. Brenner |
| Design date: | 1909 |
| Reverse | |
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| Design: | Lincoln Memorial |
| Designer: | Frank Gasparro |
| Design date: | 1959 |
The United States one-cent coin is a unit of currency equaling one one-hundredth of a United States dollar. Its symbol is: ¢. Its obverse has featured the profile of President Abraham Lincoln since 1909, the centennial of his birth. Since 1959 (the sesquicentennial of Lincoln's birth), the reverse has featured the Lincoln Memorial. The coin is 0.75 inch (19.05 mm) in diameter and 0.061 inch (1.55 mm) in thickness.
The one-cent coin is often called a penny, but the U.S. Mint's official name for this coin is cent.
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History of composition
- Further information: Lincoln cent
| Years | Material |
|---|---|
| 1793–1837 | copper |
| 1837–1857 | bronze (95% copper, 5% tin and zinc) |
| 1857–1864 | 87.5% copper, 12.5% nickel (also known as NS-12) |
| 1864–1942 | bronze (95% copper, 5% tin and zinc) |
| 1943 | zinc-coated steel (also known as steel penny) |
| 1944–1946 | brass (95% copper, 5% zinc) |
| 1946–1962 | bronze (95% copper, 5% tin and zinc) |
| 1962–1982 | brass (95% copper, 5% zinc) |
| 1982– present | 97.5% zinc core, 2.5% copper plating |
- Further information: 1943 steel cent
In 1943, at the peak of World War II, cents of zinc-coated steel were made for a short time due to war demands for copper. A few copper cents from 1943 were produced from the 1942 planchets remaining in the bins. Similarly, some 1944 steel cents have been confirmed. From 1944 through 1946, salvaged ammunition shells made their way into the minting process, and it was not uncommon to see coins featuring streaks of brass or having a considerably darker finish than other issues.
During the early 1970s, the price of copper rose to a point where the cent almost contained more than one cent's worth of copper. This led the Mint to test alternate metals, including aluminum and bronze-clad steel. Aluminum was chosen, and over 1.5 million of these cents were struck and ready for public release before ultimately being rejected. The proposed aluminum cents were rejected due to two factors. Vending machine owners complained the coins would cause mechanical problems. Pediatricians and pediatric radiologists pointed out the radiodensity of the metal inside the respiratory and gastrointestinal tracts was close to that of soft tissue and therefore would be difficult to detect in a roentgenogram[1]. About a dozen aluminum cents are believed to still be in the hands of collectors,[2] although they are now considered illegal, and are subject to seizure by the Secret Service. One aluminum cent was donated to the Smithsonian Institution.
The cent's composition was changed in 1982 because the value of the copper in the coin started to rise above one cent.citation needed Some 1982 cents use the 97.5% zinc composition, while others used the 95% copper composition. The price of copper later returned to profitable levels.citation needed
Many people can hear the difference between the bronze and copper cents and the newer, zinc cents: simply flip the coin, giving it a good, solid strike. The predominantly copper pennies produce a ringing sound in the 12 kHz range. The zinc coins do not make a noise.[3]
Mintage figures for the Lincoln cent can be found here.
Designs
The coin has gone through several designs over its two-hundred year time frame. Until 1857 it was about the size of the current U.S. half dollar coin.
The following types of cents have been produced:
- Flowing Hair Chain (1793)
- Flowing Hair Wreath (1793)
- Liberty Cap (1793–1796)
- Draped Bust (1796–1807)
- Classic Head (1808–1814)
- Coronet (1816–1839)
- Braided Hair (1839–1857)
Small Cents:
- Flying Eagle (1856–1858)
- Indian Head (1859–1909)
- Lincoln Wheat (1909–1958)
- Lincoln Memorial (1959–)
Throughout its history, the Lincoln cent has featured several fonts for the date, but most of the digits have been old-style numerals, except with the 4 and 8 neither ascending nor descending. The only significant divergence is that the 3 was non-descending (the same size as a 0, 1, or 2) in the early history, before switching to descending for one year in 1934 and then permanently (as of 2004) in 1943.
The Lincoln Memorial is shown on the reverse of the United States cent. In his treatise Theory and Practise of Numismatic Design, Joe Began states that because the Lincoln Memorial is shown in sufficient detail to discern the statue of Lincoln on the reverse of the cent, Abraham Lincoln was the only person to be depicted on both the obverse and reverse of the same United States coin. In 1999, the New Jersey state quarter was released, which depicts George Washington on both sides, crossing the Delaware River on the reverse side and his profile on the obverse.
Toxicity
Zinc, a major component of post-1982 US cents, is toxic in large quantities. Swallowing such a penny, which is 97.5% zinc, can cause damage to the stomach lining due to the high solubility of the zinc ion in the acidic stomach.[4] Zinc toxicity, mostly in the form of the ingestion of US pennies minted after 1982, is commonly fatal in dogs where it causes a severe hemolytic anemia.[5] In pet parrots zinc is highly toxic and poisoning can often be fatal[6].
Numismatics and regulations
Various commentators have suggested that the cent should be eliminated as a unit of currency for several reasons including that many Americans do not actually spend them, but rather only receive them in change at stores and proceed to return them to a bank for higher denomination currencies. Most modern vending machines do not accept cents, further diminishing their utility, and the production cost now exceeds the face value of the coin due to increasing metal prices.[7] In 2001 and 2006, for example, United States Representative Jim Kolbe (R) of Arizona introduced bills which would have stopped production of cents (in 2001 the Legal Tender Modernization Act, and in 2006 the Currency Overhaul for an Industrious Nation (COIN) Act).[8]
At the current metal prices, the pre-1982 copper cent contains 2.65 US cents which makes them an attractive target for melting by people wanting to sell the metal as a profit. The US Mint which is a part of the US Department of the Treasury, in anticipation of the business of melting down US cents (pennies) and US five-cent coins ("nickels") for profit, implemented new regulations[9] on December 14, 2006 which criminalize the melting of cents and nickels and place limits on export of the coins. Violators can be punished with a fine of up to $10,000 USD and/or imprisoned for a maximum of five years.
Metal content
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This article or section may contain original research or unverified claims. Please improve the article by adding references. See the talk page for details. (August 2008) |
As of July 8, 2008, the price of copper on kitcometals.com is $3.8088 and zinc at $0.8013 per pound and at London Metal Exchange is $8535.00 usd per tonne. One tonne = 1000 kilograms = 2204.62262 pounds. This is $3.87141088 usd per pound copper [10] and zinc is $0.817373451 per pound[11]. A 1962 - 1982 us cent (penny) weighting 2.5 grams at 95% copper and 5% zinc at a kitco/lme average of $3.84010544 usd per pound copper and $0.809336726 usd per pound zinc. This is $0.0201067104 usd copper and $0.000223035257 (USD) zinc for a total for pre-1982 us cents at $0.0203297457 usd per copper standard US cent. The 1982 - present of 2008 zinc 97.5% standard with 2.5% copper-plate US cent contains $0.00434918751 usd worth of zinc and $0.000529123958 usd worth of copper for a total of $0.00487831147 usd in metal value for the 1982 - present US cent (penny).
According to the US Mint, the costs of producing and shipping one-cent (penny) and five-cent (nickel) coins during fiscal year 2007 are $0.0167 per penny and $0.0953 per nickel.
Redesign
In 2009 the cent will get a one-year, four-coin commemorative program marking the 100th anniversary of Lincoln being placed on the cent, and the 200th anniversary of his birth. Thus, 2008 will be the 49th anniversary, and last year that the Lincoln Memorial will be on the U.S cent.[12] This redesign was passed as part of the Presidential $1 Coin Act of 2005, which also mandates that in 2009, numismatic cents will be issued for collectors that have the metallic copper content of cents minted in 1909.[13] In 2010, the cent will be completely redesigned, with a new, permanent design being released into circulation. The redesign should show Lincoln's preservation of the country in the Civil War. Lincoln, however, will remain on the coin. The composition for circulating issues will remain copper-plated zinc.
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See also
- Large cent (United States coin)
- Mill (currency)
- United States Mint coin production
- Take a penny, leave a penny
- Efforts to eliminate the penny in the United States
References
- ^ John P. Dorst MD, Thomas E. Reichelderfer MD, and Roger C. Sanders MA, BM, BCh, MRCP, FRCRP. Radiodensity of the Proposed New Penny, PEDIATRICS Vol. 69 No. 2 February 1982, pp. 224-225. Accessed 2008-04-17.
- ^ ""1974 One Cent"". Retrieved on 2006-12-23.
- ^ ""Is my Penny a Copper, or a Zinc Cent?"". Retrieved on 2008-06-16.
- ^ Dawn N. Bothwell, MD and Eric A. Mair, MD, FAAP. Chronic Ingestion of a Zinc-Based Penny, PEDIATRICS Vol. 111 No. 3 March 2003, pp. 689-691. Accessed 2008-04-17.
- ^ Stowe CM, Nelson R, Werdin R, et al: Zinc phosphide poisoning in dogs. JAVMA 173:270, 1978
- ^ See, for example, this list of common parrot illnesses and their causes.
- ^ Hagenbaugh, Barbara (2006-05-09). "Coins cost more to make than face value", USA Today. Retrieved on 2006-10-04.
- ^ Zappone, Christian (2006-07-18). "Kill-the-penny bill introduced", CNN Money. Retrieved on 2006-10-04.
- ^ United States Mint Moves to Limit Exportation & Melting of Coins
- ^ London Metal Exchange - Copper
- ^ London Metal Exchange - Zinc
- ^ United States Mint (2006-11-30). "Presidential $1 Coin". Retrieved on 2008-04-03.
- ^ Complete text of the Presidential $1 Coin Act of 2005 at Wikisource
External links
- The Composition of the Cent from the U.S. Mint website
- "Penny Foolish", by David Margolick, New York Times, February 11, 2007 - a brief popular history of the cent.
- Why does Lincoln face to the right? - An article explaining why Lincoln faces to the right on the US Cent
- Man tries to get rid of million pennies, USATODAY/AP, 7/1/2004
- December 14, 2006 press release by United States Mint concerning new rules outlawing the melting of pennies and nickels
- Examination of claim that "A U.S. penny costs more than a cent to manufacture" on Snopes.
- Lincoln Penny Design Images for 2009 Circulating Commemorative Cents
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Wikipedia content modification information:
- This page was last modified on 9 October 2008, at 05:44.
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